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December Tax Appeals Update

December 22, 2014

Personal Property Tax Reform Implementation   

The voter’s approval in August of Proposal 1 ensures that the phase-out of manufacturing personal property will proceed and the “small business” exemption, which became effective in 2014, will continue. While the manufacturing exemption does not take effect until the 2016 tax year, there are some additional reporting requirements in 2015 for those planning to claim the exemption in 2016. The 2015 personal property statement will require that additional information be provided concerning if and when the property reported in 2015 will become exempt under the new law. Failure to file the schedule in 2015 will not disqualify a taxpayer from claiming the exemption in 2016, but will result in additional procedural steps to do so.

Ohio Property Tax Appeal Deadlines  

For Ohio properties, March 31, 2015 is the tax appeal deadline and January 1, 2014 is the valuation date for the 2014 tax year. The counties below will have reassessments and those new values will apply to the 2014-2016 tax years (i.e., for taxes imposed during calendar years 2015-2017).

Ashland

Greens

Perry

Ashtabula

Hamilton

Pickaway

Athens

Hardin

Pike

Auglaize

Harrison

Preble

Butler

Henry

Putnam

Clermont

Jackson

Richland

Clinton

Knox

Seneca

Darke

Licking

Shelby

Defiance

Madison

Summit

Deleware

Mahoning

Trumbull

Franklin

Mercer

Van Wert

Fulton

Montgomery

Wayne

Gallia

Morrow

Wood

Geauga
   

Noble
   

 

Honigman is a founding member of the American Property Tax Counsel (APTC), the only organization of law firms that provides major portfolio owners with a single source for all of their property tax reporting and tax reduction needs. APTC covers the United States and Canada and serves clients in every category of real estate, including apartments, shopping centers, big-box stores, hotels, warehouses, factories, and office buildings. Working with our local APTC members, we provide property tax representation to clients with properties being reassessed in Ohio, the neighboring Great Lakes States, and nationwide. The local nature of the APTC has benefited our clients, and we have become a powerful advocate in optimizing reductions in their property taxes.

For more information regarding this or any another tax appeals related issue, please contact any of our Tax Appeals attorneys.